Depending on the number of rows, it can take Haseer Heritage’s weavers in Turkey up to 20 days to make a bracelet from 0.30-mm silver or gold string, says Elmaagacli, who co-founded the company with her sister, Gizem Yilmaz. The more rows in a piece, the more time it takes to make. And given the metal softness required to weave the string with a specialized crochet needle, only 22- or 24-karat gold or pure silver will do.
“You have to be an expert to achieve the perfection of the weave,” she explains, adding that haseer means ‘mat’ in Turkish. “If you make a mistake, you have to unravel it to that point and do it over.”
No doubt, labour-intensive jewellery can be pricey. However, brands like Haseer Heritage are banking on craftsmanship, quality, and a compelling brand story to sway consumer sentiment during the critical holiday shopping season. At this article’s writing, the latest figures showed the Bloomberg Nanos Canadian Confidence Index had fallen to 53.4 in the week ending July 24, the lowest it’s been since May 2013.
The higher cost of finished products and raw materials purchased in U.S. dollars is one of the reasons Toronto-based bridal manufacturer T & T Jewellers is promoting lighter and finer platinum engagement rings. The goal is to offer consumers the cachet of the precious metal without the sticker shock associated with heavier pieces.
“Customers like platinum, but it’s really expensive, so we came up with designs that are a little finer to hit a price point that is much more affordable,” says Caroline Skilich from her booth at the Canadian Jewellery Group (CJG) show.
“When it comes to a simple solitaire, the price for a platinum mount can be more than $1000 and that alone kind of scares off customers. Retailers should have a selection of platinum rings at lower price points in their stores, so they have something different to present to consumers.”
Categories like bridal and custom design tend to do better than others during tough economic times, but consumer financing options using in-store credit cards can also help close a deal or upsell a client, says Alex Forsyth, national sales director for Wellspring Financial.
“They allow access to more financing, so customers can get a bigger engagement ring,” he explains. “If a client’s budget is $1000, but what they really want costs $2000, shifting the conversation to a monthly installment of $100 can make the purchase more affordable to them. It can also put the jeweller in a position where they can increase their sales and customer loyalty.”
